Engineers Gate Manager LP Buys 20,681 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Posted by on Mar 12th, 2023

Engineers Gate Manager LP raised its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 69.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,358 shares of the real estate investment trust’s stock after buying an additional 20,681 shares during the period. Engineers Gate Manager LP’s holdings in Sunstone Hotel Investors were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Sunstone Hotel Investors by 89.8% in the 3rd quarter. BlackRock Inc. now owns 37,716,554 shares of the real estate investment trust’s stock valued at $355,290,000 after buying an additional 17,846,522 shares during the last quarter. State Street Corp grew its position in shares of Sunstone Hotel Investors by 8.6% in the 2nd quarter. State Street Corp now owns 10,789,154 shares of the real estate investment trust’s stock valued at $107,028,000 after buying an additional 853,584 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Sunstone Hotel Investors by 114.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,544,054 shares of the real estate investment trust’s stock valued at $94,677,000 after buying an additional 5,095,604 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Sunstone Hotel Investors by 16.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,243,464 shares of the real estate investment trust’s stock valued at $81,775,000 after purchasing an additional 1,177,444 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Sunstone Hotel Investors by 11.3% during the 2nd quarter. FMR LLC now owns 7,035,679 shares of the real estate investment trust’s stock valued at $69,793,000 after purchasing an additional 712,196 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SHO shares. Truist Financial cut their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, December 5th. Raymond James lowered Sunstone Hotel Investors from a “market perform” rating to an “underperform” rating in a research report on Friday, December 9th. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. Morgan Stanley cut their target price on Sunstone Hotel Investors from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 7th. Finally, Barclays cut their target price on Sunstone Hotel Investors from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 10th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

Sunstone Hotel Investors Stock Down 1.8 %

Shares of NYSE:SHO opened at $9.74 on Friday. The business’s 50 day simple moving average is $10.36 and its two-hundred day simple moving average is $10.43. The firm has a market cap of $2.03 billion, a P/E ratio of 27.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.56 and a current ratio of 0.56. Sunstone Hotel Investors, Inc. has a 52-week low of $9.19 and a 52-week high of $12.72.

Sunstone Hotel Investors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.05 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.20 annualized dividend and a yield of 2.05%. Sunstone Hotel Investors’s payout ratio is currently 28.57%.

Sunstone Hotel Investors Profile

(Get Rating)

Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its portfolio consists of upper upscale hotels located in major convention, resort destination, and urban markets. The company was founded by Robert A.

See Also

Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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